The buy makes a lot more sense than eBay's recent inexplicable, and expensive, buys.

The auction house said this week it wanted to offload Skype - the Voip provider it bafflingly bought for $2.4bn in 2005 - and it has also sold StumbleUpon back to its founders for an undisclosed amount.

eBay has already written off $1.4bn of the value of Skype and in January revenues for the fourth quarter fell for the first time in its history. The online tat bazaar watched revenue fall 6.4 per cent while profits were down 31 per cent.

Yahoo! owns ten per cent of Gmarket which it has agreed to sell it to eBay.®